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Topic: inventory management software

The Difficulties of Inventory Management and the Approach you Take

The difficulties of inventory management can be minimised simply by utilising purpose-built software, tried and true methods and adjusting one’s approach to it. In this article, we consider the difficulties of inventory management with particular attention to the reactive and proactive approaches to stock control. Reactive inventory control This ... Read More

  July 13, 2019     

Easy Steps Toward Better Sales Quoting

Any business owner will know how important it is to have a streamlined and successful process for sales quoting. In this article, we’ll outline a step by step process for improving the speed and accuracy of sales quoting, to ensure inventory is managed effectively. What is sales quoting? When sales transactions involve the exchange of [&helli ... Read More

  July 4, 2019     

Inventory Control Can Help Improve Your Sales Quoting

Not all sales transactions start with a listed price for goods and services, instead, a sales quote may be used. Sales quoting allows a business to establish a price based on individual consumer requests for the provision of goods and services. Sales quoting explained A sales quote is used in sales transactions for services, or […] ... Read More

  June 25, 2019     

Is Your Business Prepared to Handle a Product Recall?

If your business finds itself in a situation where you have to do a product recall, will you be able to manage it? Safety is at the top of consumer’s minds and it should be at yours. If you send a product to market that is deemed unsafe, you’ll need to be prepared and know […] ... Read More

  June 17, 2019     

Coping With Inventory Uncertainties: The probabilistic model of inventory control

Inventory control is exceedingly difficult if you go into it blind, with no tips and tricks and no supporting software. However, with the right knowledge and methods in place, it can be something you can manage and control with few problems. Part of the art of inventory control lies in the ability to adapt to […] ... Read More

  May 24, 2019     

How Stocktaking Can Shed Light on Inventory Turnover

An accurate stock take ensures that the inventory turnover ratio is going to be a reliable tool. If the numbers are right, business owners can plan for the future. It is a powerful part of inventory management and allows the business to make smarter decisions on what parts of the inventory stock they should invest […] ... Read More

  May 21, 2019     

How You Can Optimise Your Inventory to Save Money

The phrase ‘flushing money down the drain’ can feel like a reality if your inventory isn’t managed properly. Managing inventory can be daunting, but the feeling of losing money because of inventory can be even worse. Mistakes from a stock take can be costly: dead stock lying around the warehouse can take up storage costs […] ... Read More

  May 13, 2019     

Understanding Inventory Par Levels in Business

As any business owner or inventory manager knows, balancing inventory and managing inventory levels effectively can be the backbone of any business. While a company is smaller, managing inventory may be a relatively simple task, but it can quickly become more and more difficult as the business growth along with the customer base. In this […] ... Read More

  May 4, 2019     

Making Smarter Merchandising Decisions with Better Inventory Management

Selecting the appropriate types and quantities of merchandise for your business can be a real challenge, especially as your business begins to grow. Managing your inventory well can help take the guesswork out of purchasing decisions, and lead to more profitability and less wastage. In this article, we explore how business owners and inventory mana ... Read More

  April 20, 2019     

The Impact of a Multichannel Strategy on Your Entire Supply Chain

Multichannel retail strategies open up selling opportunities to the vendor, increasing the level of interaction with consumers and offering a more and more customised approach to retail. However, this does not come without impact to the supply chain, both positive and negative. So, what are some of the effects to be aware of? Top of […] ... Read More

  April 17, 2019     

Centralised Inventory Management: Is it right for you?

Inventory management is a game changer when it comes to retail profitability. When your inventory is managed well, other parts of your business reap the benefits. However, the importance of inventory management isn’t always appreciated and can be overlooked by business owners. This is interesting because, from a financial point of view, inventory ... Read More

  April 11, 2019     

Improving the Picking Process with Inventory Management Techniques

Inventory management is all about balancing supply with demand and ensuring neither supply nor demand becomes out of control. However, it is also about paying attention to what happens in the middle, and even if supply and demand meet happily, ensuring that every internal step is as efficient and cost-effective as possible. The internal step [&hell ... Read More

  March 28, 2019     

Preventing 3 Common Inventory Control Issues

For large corporations or SMEs, correctly managing your inventory stock is imperative to achieving an efficient, sustainable and profitable business. Inventory control, however, brings with it many issues but with the right tools, some of the common ones are easily managed. Problems include product stockouts that result in lost sales opportunities ... Read More

  March 26, 2019     

5 Traits of a Great Inventory Manager

Inventory management is key to the success of any business, big or small. It encompasses a wide range of tasks, all of which should streamline your supply chain and ensure the utmost productivity. As your business grows, good inventory management will become even more crucial, and you may need to hire an inventory manager who […] ... Read More

  March 23, 2019     

6 Signs Your Business is Achieving Efficient Inventory Management

Did you know that better inventory management and control is one of the biggest parts of running a successful business and yet it is one that is often put on the back burner for misconceptions of that it is not a major profitable pursuit? Business owners know that holding inventory stock ties up a lot […] ... Read More

  March 19, 2019     

3 Inventory Control Techniques to Improve and Maintain Inventory Accuracy

Inventory accuracy is vital to an organisation’s long-term success. Profits depend on the sale of inventory stock and if you don’t know what or how much you are selling then you could be missing an opportunity to maximise sales. Having poor and inaccurate inventory control can be costly because it causes issues such as unplanned […] ... Read More

  March 16, 2019     

5 Benefits of Modernising Your Inventory Management Today

Sometimes you know there is room for improvement, but you simply cannot decide where to begin. If there’s one area that can have a far-reaching impact on your business in terms of making money and saving money, it has to be better inventory management. We’ve recently seen Target prioritise a $7 billion investment to optimise […] ... Read More

  March 7, 2019     

What’s Causing Your Inventory Management Problems and How to Avoid Them

Businesses are quickly realising that inventory control is absolutely necessary to run an efficient business and make money in the process. Especially in today’s competitive marketplace, business owners simply can’t afford to have money go down the drain. We take a look at common inventory management problems, causes and how best to avoid this. ... Read More

  March 6, 2019     

Inventory Management In An Increasingly On-Demand World

In our increasingly digital, and moreover, consumer-driven world, inventory management can be tough for business owners. Whereas traditional inventory management was fulfilled in bulk and only took into account the brick-and-mortar store, these days it’s much different. Consumers are increasingly demanding newer, more efficient and more convenien ... Read More

  March 5, 2019     

What Makes a Great Inventory Manager?

Being an inventory manager involves a varied set of skills. These skills need to span across a variety of touchpoints in a business. Not only do you need to manage the inventory, but you need to look after your staff who help you on the warehouse floor. It’s a crucial role that has responsibilities in […] ... Read More

  March 1, 2019     

How to Tackle the On-demand World of Inventory Management

It’s fast-paced, it’s busy, it’s all things go, all the time. Inventory management is an around the clock operation and the pace isn’t slowing down. The way we shop has rapidly changed. This means the way we manage inventory has rapidly adapted as well. Just think about the most basic transaction of going into a […] ... Read More

  February 28, 2019     

Look to Modernisation to Give Your Inventory Management a Make-Over

If you’re looking to make improvements to your inventory management, but you’re not sure where to start, we’ve got a few suggestions to help you out. When you take a step back and look at your processes, your warehouse, and your staff, you will undoubtedly see methods that can be better. It’s one thing to […] ... Read More

  February 27, 2019